If you’re contemplating career acceleration and personal or professional investments in getting a graduate degree, you might wonder when it is the right time to get an MBA. This choice will change on a case-by-case basis, but it must be weighed carefully due to the time and energy required of its students.
Some common factors you might want to consider include:
- Career stage
- Life balance
- Financial readiness
Assessing Personal and Career Readiness
The choice to pursue an MBA should be heavily based on your own personal and professional circumstances. A few factors you may want to consider include your career objectives, skill gaps, readiness for change, and personal life circumstances.
The professional goals you have for yourself are instrumental in deciding whether it is the right time to pursue an MBA degree. Some students choose to enter an MBA program immediately following the completion of their undergraduate degree. While you can certainly get an MBA with no work experience, first-hand experience of the business world’s job market might be helpful before pursuing a graduate degree.
If you are confident in your desire to enter your field with highly specialized knowledge and a firm set of skills, finishing your education as soon as possible might be the best option. Consider what skills you can gain in a classroom setting and which skills are better earned through real-world job experience.
While your program will certainly be helpful, it might leave gaps in knowledge that are integral to career advancement and success in your desired field. Alternatively, if you are unsure of your exact career goals, it could benefit you to hold off on pursuing an MBA until you get a feel for what jobs and fields excite you.
While the timing of an MBA will lend itself to your professional aspirations, be sure to prioritize your personal life circumstances as well. Pursuing a degree will require some flexibility and/or dedication.
The financial requirements of an MBA program will vary, so you should consider your financial stability and options for support. Choosing an MBA program that requires you to relocate will be more of a financial commitment, as opposed to a program that is close to home. Factors like financial aid, scholarships, and fellowships also vary from school to school, but can always be considered.
You may also need to weigh your ability to balance the required coursework with your existing career responsibilities. Depending on the kind of work you do, it might mean a difference between finding time on the weekends or organizing your work and classes around scheduled shifts. MBA programs understand that their students are at varying stages of their lives and careers, so it will be manageable for both their education and work to coexist.
While life balance can often come as an afterthought, it should factor into your ultimate decision. Whether you are beginning the program with an established family or only looking after yourself, there are significant time, energy, and finances required of an MBA student. Your choice of modality, such as in-person, hybrid, or online, might help allow you more time at home while completing your degree. The difference between part-time and full-time MBA programs can also contribute to maintaining a balance.
The importance of professional aspirations versus your personal commitments varies from person to person. Your choice is entirely unique and will rely on your individual goals and values.
MBA Timing Considerations: Early Career vs. Mid-Career
Any given MBA program will have a wide age range within its enrolled population. There is a unique set of benefits and challenges for pursuing an early vs mid-career MBA.
For younger students, an MBA degree can set you apart from the competition and give you a better chance of securing an entry-level position. By choosing to pursue a graduate-level degree closer to the completion of your undergraduate degree, you can experience early career acceleration.
An MBA degree will give you a distinct edge against a more general sea of applicants through a foundational education of business theory and required skills. Earning an MBA early in your career will also open up a stronger professional network that is directly aligned with your professional goals.
Younger students who pursue an MBA might feel challenged by their more limited real-world experience. Opting to earn a degree instead of entering the job market will certainly reinforce important knowledge, although it can delay students from gaining hands-on experience and understanding their specific interests and skills, and exploring different career paths before choosing how they want to focus their business school studies.
Adam Botti, current MBA candidate, chose to complete his MBA directly following his undergraduate degree. As an early-career MBA student, Botti has appreciated the way his MBA is already paying off in his professional development. His MBA program’s flexibility enabled him to “begin [his] career while actively pursuing academics.”
For more established students looking to pursue a mid-career MBA, there are a variety of considerations that can help you make the right decision. Your extensive professional experience allows you to leverage your learned skills and experience to provide nuance and a deeper understanding of your program’s teachings. Having confidence in your career objectives and professional interests as a student with professional experience will ensure that pursuing an MBA is the right decision for you and your career.
While the frequency of classes can depend on the completion plan you choose, a graduate-level degree will require a certain amount of commitment from its mid-career MBA students. Be sure to consider how these requirements will affect you, your existing career, and your family.
Paul Pulhalla, current MBA candidate, chose to pursue a degree after seventeen years in the workforce. He balances his coursework with a full-time job, family responsibilities, and much-needed free time. Pulhalla acknowledges, “It hasn't always been easy, but I am so glad I pursued this degree to learn more specifically in the areas of finance, human resources, and negotiation.”
Key Factors in Making Your Decision
Every potential MBA candidate brings a unique set of values and commitments to the table, so the choice to pursue a degree will always rest on unique factors.
In addition to the considerations listed above, you can decide by:
- Reflecting on your personal goals
- Conducting informational interviews with current MBA students and alumni
- Attend MBA webinars and open houses
The available flexibility of MBA programs can help you fit the degree into your life, no matter which stage you’re at. A part-time online program might work best for you if you are looking to maintain or begin your career at full speed. A full-time hybrid program might work best if you want to balance classroom experience with an existing career and familial responsibilities. With no shortage of MBA programs to choose from, be sure the one you choose doesn’t require you to make sacrifices.
There is no universal, objective “right” time for everyone to pursue their MBA. The right time for you will depend on your unique goals and circumstances. By carefully considering your personal responsibilities and professional goals, you are one step closer to deciding to level up with an MBA.
